The Mastercard Foundation, in consultation with Mastercard Incorporated, has filed an application with the Ontario Public Guardian and Trustee to modify its Deed of Gift. The proposed changes aim to provide greater flexibility in the Foundation’s long-term investment and operational strategy to support its philanthropic mission. Established in 2006 through a gift of company stock, the Mastercard Foundation has grown into one of the world’s largest charitable foundations, with approximately US$37 billion in assets. Currently, the Foundation’s funding primarily comes from its stockholdings in Mastercard, and the existing Deed of Gift restricts the Foundation from selling its shares until May 2027, except as required to meet Canadian disbursement quotas. The Foundation now seeks permission to commence the diversification process on January 1, 2024, allowing it to scale charitable programming spending while avoiding disruptions in the market for Mastercard stock. The Foundation plans to sell the Mastercard stock over a seven-year period while maintaining a significant overweight holding in its portfolio. Both the Foundation and Mastercard believe that the proposed steps will facilitate an orderly diversification of the Foundation’s holdings while maintaining a shared commitment to financial inclusion.